BitMart Considers Partial Restart and Creditor Payouts After Shutdown

BitMart, a cryptocurrency exchange that has been shut down for weeks, is considering a partial restart. The exchange would resume some operations in an orderly manner while distributing funds to creditors. This plan marks a change from its initial shutdown notice, which cited operating conditions and market environment as the reason.

The proposed plan includes phased resumption of certain operations alongside distributions to creditors. However, details on which operations might restart and how creditor distributions would work have not been disclosed. The exchange has hired White & Case as restructuring counsel and expects to provide a detailed roadmap by Sept. 9.

BitMart halted new registrations, deposits, and trading orders after nine years in operation. Its BMX token price dropped about 58% over 24 hours following the shutdown announcement, extending its year-to-date decline to 83%. The exchange plans to terminate platform operations on Jan. 31, 2027.